The price formed potential Head and Shoulders on the 4H chart, if we see a break above the resistance zone between 1.2170 – 1.2190 we will see further upside toward the previous daily high at 1.2350, second 1.2450. On the other hand, if the price break below 1.2020 will resume the bearish run started with the break of the wedge on the daily chart and it will send the price toward, first previous low at 1.1950, second 1.1860-80, then 1.180 – 20.
Review our 2021 technical analysis for EUR/USD.
4H chart:
Daily chart: